Two Third of the Entrepreneurs are Positive about the Future of Economy: Survey

entrepreneurship2 Entrepreneurs have gone through worst economic period during the last year.  You already know the current condition of your business. But, you may be curious to know how your fellow entrepreneurs are doing and what they think about the future of the economy. Ray Silverstein president of  PRO:  President’s Resource Organization made a survey among different business owners about the future of the economy and the findings are as follows:

  • Outlook of the economy is positive: When business owners are asked how did they perform during the last six month of their business , 42 % replied that “not as bad as it could have been”. The 25% reported that they had better performance during that period and the remaining 33% responded that they did “worst than expected”. The survey also indicates that two third of the small business owners are optimistic about the future of the economy.
  • Reduction of expenses is crucial:  The reduction of expense is very important for small business owners. The survey further found that 25 percent of respondents reported that they laid off people, 11 percent lowered working  hours and other 9 percent was successful to reduce their staff through attrition. Another 16 % lowered their expense by reducing healthcare cost and a section of the respondents cut down spending by lowering rent and phone service, and limited travel and entertainment costs.
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